The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and Slumberger (SLB) Global have pledged to work together in a strategic partnership to boost Nigeria’s oil production.
Gbenga Komolafe, the Commission’s Chief Executive (CCE) , disclosed this when he received a delegation from Slumberger (SLB) Global led by its global President, Olivier Le Peuch, in Abuja.
The strategic meeting between the NUPRC Chief and officials of Slumberger underscored the Commission’s commitment to fostering strategic partnerships that would enhance Nigeria’s oil production and operational efficiency.
The NUPRC said in a statement that the purpose of the visit was to explore specific areas of collaboration and partnership between both organizations.
According to the statement, the CCE in an extensive discussion held with SLB Global representatives said the meeting was to cultivate a long-term partnership that aligned with the Commission’s goals and regulatory framework.
During the meeting, Komolafe was quoted as emphasising that the NUPRC would adopt both participatory and collaborative approaches to facilitate ease of doing business in the oil sector.
He highlighted several of the Commission’s achievements since its inception in 2021 under the Petroleum Industry Act (PIA), including the establishment of 17 key regulations to improve industry standards and operational efficiency; re-engineering of the Nigeria National Data Repository (NDR); promotion of the monetization of country’s oil blocks, and aligning regulations with global energy transition initiatives and carbon footprint reduction goals.
The CCE also mentioned the ongoing licensing rounds as a testament to the Commission’s proactive approach in regulating the sector, adding that one notable achievement was the NUPRC’s commitment to eliminating gas flaring and commercializing flared gas under the Nigerian Gas Flare Commercialization Programme (NGCP).
This initiative, he explained, has designated 49 flare sites for commercialization, as a demonstration of the Commission’s dedication to environmental sustainability and resource optimization.
In his speech, the SLB Global President, Olivier Le Peuch, expressed satisfaction with the Commission’s regulatory framework and indicated the company’s readiness to collaborate with it to realise its set objectives in the industry.
He reiterated the importance of such collaborations and partnerships in unlocking Nigeria’s onshore and offshore oil potential, particularly through leveraging advanced technology.
Le Peuch said areas of mutual interest identified during the discussion included the development of Nigeria’s frontier basins and the integration of innovative technologies to enhance exploration and production efficiencies.
At the end of the meeting, the Commission said both parties agreed to constitute a contact team to further investigate and identify more opportunities for collaboration.
The team would focus on expanding the scope of mutual interests and ensure that both organizations could effectively work together to achieve their shared objectives.
